Kec International Ltd. · NSE:KEC
Kec International — Q2 FY26 Earnings Presentation
26 slides from Kec International's earnings presentation, Nov 10, 2025
Slide 1: Cover letter to stock exchanges – Investor Presentation
KEC INTERNATIONAL LTD. RPG House 463, Dr. Annie Besant Road Worli, Mumbai 400030, India +91 22 66670200 kecindia@kecrpg.com www.kecrpg.com November 10, 2025 National Stock Exchange of India Limited BSE Limited Exchange Plaza Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Fort Bandra (E
Slide 2: KEC International Limited Investor Presentation – Q2 FY26
KEC International Limited Investor Presentation – Q2 FY26 1 0 N o ve mb e r 2 0 2 5 Power T & D Civil Transportation Oil & Gas Pipelines Renewables Cables & Conductors
Slide 3: Disclaimer
Disclaimer This presentation may include statements which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position, expenditures,
Slide 4: Overview – RPG Group & KEC International
1 Overview – RPG Group & KEC International HVDC Converter Station, Mumbai, Maharashtra 3
Slide 5: RPG Group: Powered by Passion, Driven by Ethics
RPG Group: Powered by Passion, Driven by Ethics UNLEASHTALENT RPG Enterprises was founded in 1979. The group currently operates various businesses in Infrastructure, Technology, Life Sciences, Plantations and Tyre industries. The group has business history dating back to TOUCHLIVES 1820 AD in bankin
Slide 6: KEC International: A Legacy of Decades, A Promise of Happiness
KEC International : A Legacy of 8 Decades, A Promise of Happiness 275+ FOOTPRINT IN Revenue FY25 8 21,847 Cr 110+ COUNTRIES ONGOING PROJECTS Manufacturing Facilities 84 7500+ 40+ Order Book & L1 HAPPINESS SCORE EMPLOYEES NATIONALITIES 44,000 Cr+ Transmission Cables & Civil Transportation Renewables
Slide 7: Diverse Portfolio of Offerings
Diverse Portfolio of Offerings Transmission Lines Factories Logistics Metros – Civil Metros - Tech TCAS - Kavach Semiconductor Substations Residential Buildings Airports OHE S&T Speed Upgradation Thermal HVDC Commercial Buildings Hospitals Track Laying Railway Bridges Automatic Signalling Ropeway Un
Slide 8: Purpose Statement and Culture Pillars
Purpose Statement and Culture Pillars “WE TRANSFORM LIVES BY BUILDING SUSTAINABLE WORLD CLASS INFRASTRUCTURE” Execution Excellence Customer Centricity Technology & Engineering Mindset Happiness Inclusive - Empowerment Diverse & & Trust Global Mindset 7
Slide 9: Board of Directors
Board of Directors H. V. Goenka Chairman, Non Executive Director Vimal Kejriwal Arvind Singh Harsh Vardhan Shringla M.S. Unnikrishnan Neera Saggi Managing Director Non Executive Non Executive Non Executive Non Executive & CEO Independent Director Independent Director Independent Director Independent
Slide 10: Management Team
Management Team Vimal Kejriwal Managing Director & CEO, KEC International Limited Rajeev Agarwal Anand Kulkarni Ganesh Srinivasan Prateek Bhattacharya Chief Financial Officer Executive Director - President – Managing Director, Business Operations T&D KEC Asian Cables Ltd. Nagesh Veeturi Kaushal Kode
Slide 11: Key Performance Highlights
2 Key Performance Highlights FMCG Factory, Sri City, Andhra Pradesh10
Slide 12: Financial Highlights Q2 & H1 FY26 – Growth Across Parameters
Financial Highlights Q2 & H1 FY26 – Growth Across Parameters Q2 FY26 vs Q2 FY25 Revenues EBITDA PBT PAT 19% 34% 88% 88% YoY YoY YoY YoY % 7.1% % 3.5% % 2.6% 6,092 Cr 430 Cr 213 Cr 161 Cr H1 FY26 vs H1 FY25 Revenues EBITDA PBT PAT 15% 27% 65% 65% YoY YoY YoY YoY % 7.0% % 3.3% % 2.6% 11,114 Cr 781 Cr
Slide 13: Strong Growth in Quarterly Performance - Consolidated
Strong Growth in Quarterly Performance - Consolidated Revenue (₹ Crore) EBITDA (₹ Crore) and EBITDA Margin (%) CAGR 14% 6,092 CAGR 34% 5,113 7.1% 4,499 6.1% 6.3% 4,064 4.4% 430 274 320 178 Q2 FY23 Q2 FY24 Q2 FY25 Q2 FY26 Q2 FY23 Q2 FY24 Q2 FY25 Q2 FY26 PBT (₹ Crore) and PBT Margin (%) PAT (₹ Crore)
Slide 14: Key Business Highlights – Q2 FY26
Key Business Highlights – Q2 FY26 T&D Civil Transportation • Revenues of Rs. 4,080 Cr, growth of 44% YoY • Revenues of Rs. 968 Cr – execution impacted • Revenues of Rs. 425 Cr • Order intake of ~Rs. 12,000 Cr across India, due to prolonged monsoon, labour shortages • Secured 3 orders YTD for Train C
Slide 15: Management Commentary
Management Commentary We have delivered another quarter of strong performance, marked by robust revenue growth, significant improvement in profitability and healthy order intake. Our EBITDA margins have continued their upward trajectory, expanding by 80 bps to 7.1% in Q2 FY26, compared to 6.3% in th
Slide 16: Financial Performance
3 Financial Performance Transmission line project, Kuwait – Saudi Arabia Interconnection 15
Slide 17: Profit and Loss Summary - Consolidated
Profit and Loss Summary - Consolidated (₹ crore) Growth Growth Particulars Q2 FY26 Q2 FY25 H1 FY26 H1 FY25 (Y-o-Y) (Y-o-Y) Revenues 6,092 5,113 19% 11,114 9,625 15% EBITDA 430 320 34% 781 615 27% EBITDA Margins 7.1% 6.3% 7.0% 6.4% (+) Other Income 5 7 10 26 (-) Depreciation 51 45 96 92 (-) Interest
Slide 18: Profit and Loss Summary - Standalone
Profit and Loss Summary - Standalone (₹ crore) Growth Growth Particulars Q2 FY26 Q2 FY25 H1 FY26 H1 FY25 (Y-o-Y) (Y-o-Y) Revenues 4,949 4,484 10% 8,978 8,372 7% EBITDA 308 230 34% 504 428 18% EBITDA Margins 6.2% 5.1% 5.6% 5.1% (+) Other Income 9 33 18 52 (-) Depreciation 36 37 68 75 (-) Interest 146
Slide 19: Businesswise Revenue Performance - Consolidated
Businesswise Revenue Performance - Consolidated (₹ crore) Growth Growth Particulars Q2 FY26 Q2 FY25 H1 FY26 H1 FY25 (Y-o-Y) (Y-o-Y) T&D: 4,080 2,831 44% 7,236 5,330 36% - T&D (KEC) 3,651 2,514 45% 6,448 4,667 38% - SAE Towers 429 317 35% 788 663 19% Non T&D: 2,159 2,369 -9% 4,149 4,461 -7% - Civil 9
Slide 20: Borrowings & Working Capital - Consolidated
Borrowings & Working Capital - Consolidated (₹ crore) Increase/ Increase/ Increase/ Particulars 30-Sep-25 30-Sep-24 30-Jun-25 31-Mar-25 (Decrease) (Decrease) (Decrease) I) Net Debt 4,615 3,566 1,049 3,660 955 3,051 1,564 II) Interest Bearing Acceptances 1,865 1,699 166 1,689 177 1,507 358 Total (I +
Slide 21: Order Intake & Order Book - Consolidated
Order Intake & Order Book - Consolidated Order Intake – YTD FY26 Order Book – YTD FY26 Revenue – H1 FY26 T&D : 70% SAE : 4% T&D : 60% SAE : 5% T&D : 58% SAE : 7% 5%1% 1% 7% 2% 1% 8% 2% 8% 19% Order Intake Order Book Revenue Rs 16,050 Cr. Rs 39,325 Cr. Rs 11,114 Cr. (Growth ~20%) 25% (Growth ~15%) (G
Slide 22: Promising Business Outlook
Promising Business Outlook TAILWINDS HEADWINDS ▪ Robust outlook in International T&D ▪ Labour availability: Improving trend, though shortages in select categories continue to pose challenges o Major transmission initiatives underway in Saudi Arabia, UAE and Oman ▪ Subdued performance in Transportati
Slide 23: Environmental, Social and Governance (ESG)
4 Environmental, Social and Governance (ESG) 500 MW Solar Project at Pavagada, Karnataka
Slide 24: ESG & Sustainability Goals and Status
ESG & Sustainability Goals and Status Happiness Diversity & Occupational Corporate Social Quotient Inclusion Heath & Safety Responsibility Target: Increase Happiness Target: Increase in diversity by Target: Work towards the Target: Reach 2 lac CSR Quotient to 85% by FY26 25% by FY26 goal of achievin
Slide 25: Sustainability Roadmap – Key Initiatives and Approach
Sustainability Roadmap – Key Initiatives and Approach • Launched revamped Rewards & Recognition • Disposed ETP sludge to authorised co-processors program – RACE (Recognise and Celebrate who convert the waste into fuel for cement kilns Happiness Excellence Circularity • Steel and concrete waste have
Slide 26: Thank You
THANK YOU Global Footprint in 110+ countries* *Includes EPC and Supply Follow us on: A logo of a camera Description automatically generated Registered Office RPG House, 463, Dr. Annie Besant Road, Worli, Mumbai - 400 030. Phone: +91-22-6667 0200 Email: kecindia@kecrpg.com www.kecrpg.com